Law Firm Fights To Quash DBSI Ponzi Scheme Suit

Law360, Wilmington (June 6, 2012, 8:37 PM EDT) -- Hirschler Fleischer PC asked a Delaware federal judge on Wednesday to dismiss a suit alleging the law firm was complicit in a $500 million Ponzi scheme orchestrated by insiders at bankrupt real estate investment firm DBSI Inc.

The complaint, filed by the litigation trustee for DBSI’s bankruptcy estate, is devoid of facts linking Hirschler Fleischer to the alleged scheme or showing that it had knowledge of any fraud committed by its former client, the law firm argued at a court hearing in Wilmington.

Andrew Morris of...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Zazzali v. Hirschler Fleischer P.C. et al


Case Number

1:11-cv-00614

Court

Delaware

Nature of Suit

Racketeer/Corrupt Organization

Judge

Leonard P. Stark

Date Filed

July 11, 2011

Law Firms

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.